Agreements were signed on Tuesday for financial investments in a number of sectors in Dominica including employment and agriculture export.
GIS News was on hand to witness the official signing of the $18.4 million arrangement between the CARICOM Development Fund and the Ministry of Finance.
$3.8 million of that sum is being donated as grant funds while the balance is a concessionary loan at 3 percent interest.
Prime Minister and Minister for Finance, Roosevelt Skerrit, listed the areas which will be improved by the funding.
“The projects we have chosen to finance are additional works at the Melville Hall Airport, support for the operationalisation of pack houses, which is critical to the export of our agricultural produce; upgrading of the services provided by the Dominica Bureau of Standards; support to the AID Bank, and a line of credit to private businesses to be administered by the AID Bank. A number of the productive sectors would benefit from this facility at the AID Bank,” he explained.
Chief Executive Officer of the CARICOM Development Fund, Lorne McDonnough said the CDF understands exactly what this loan/grant facility means to both Dominica and the region.
He noted that large developing countries (LDCs) are also part of the target group for the CDF’s financial assistance programme.
“These agreements between the Government of the Commonwealth of Dominica and the CARICOM Development Fund totalling EC 18.4 million dollars are tangible evidence of the community mechanisms at work,” he said. “This event is a milestone in the process of deepening our integration in CARICOM as Dominica is the fourth of the six country interventions in the OECS which CDF is programmed to undertake during the first funding cycle.”
He continued, “This EC 18.4 million intervention is significant. It crystallises the promises of the Revised Treaty which was reaffirmed in 2006 at the launch of the CARICOM Single Market in Jamaica. The community undertook to provide technical and financial assistance to [large developing countries] to minimise CSME-related dislocations, expand their capacity and improve their participation in the CSME.”
Skerrit used the opportunity to highlight his Government’s financial prudence.
“Rest assured that this Government, which I have the honour and pleasure to lead, has a very solid record of accounting for every single dollar we receive-whether through tax revenue or development partners and we will no doubt be in a position to report to you on the proper use of the resources which you [are making available to us]” he said.
Also present at that ceremony were the CARICOM Development Fund’s legal counsel, Arden Warner and the AID Bank’s General Manager, Julius Corbette along with several Government officials.
https://www.facebook.com/pages/Change-in-Dominica-in-2015/501173953298994?skip_nax_wizard=true
like my page change is not an option its a must … too much loans in Dominica
alas see our lives … ah Dominicans … dat alu vote for begging , grants and loans, ah ah ah Dominica … if Dominica could talk she wud tell all of alu labourites to get off her land…. dominica is the most blessed country in the world we have an abundance of every thing, water lush green vegetation, hard working people. people y… we dont need them loans there… we can work. we can train people for export. we have the potential to have eco tourism agriculture education entertainment manufacturing for export was our main multimillion dollar industries to make them money we borrowing there … skerrit boy u squeezing us boy u frustrating us y u when dem money going n be paid back when u leave with all of it in ur pocket… stop take loans n start talking introducing industries to this poor country. we cannot pay back dem loans yet… n whatu doing with all that money … we have 18.4 million pot holes in roseau catchment area alone i hope u will not just patch them up enno .. we need roads n stop with d infrastructure for a while n foccus on industry now brother….
You are doing a good job of talking including the other critics. No need for Dominica which is an island to talk for it will never happen.
.
mr prime minster please we need an indoor facility for our sports men and women
Campaigh Money for elections… under the deguise
‘for financial investments in a number of sectors in Dominica including employment and agriculture export:.
Hope all the money is spent in thses areas…. yes ii Skerrit, You never stop don’t you… ONE DAY you will..! ONe DAY you will…!
Look money for government ministers pocket they all going to have a brand new ride and plenty money in the bank, all the money i hear they getting and the is land is the same
But wait nuh allyou should go read this and see what dis is really about “Again”,,,
http://www.minfor.gov.gy/tsite/images/minfor_docs/Vacancies/cdf_vacancies.pdf
Anythng wiff the word “Euro” Marn have to question yeah cause is d same pardners dem relatives dat was manning dat East India Company, and we know all what dey do already in d name of “Profit”,,,
Dis looks like just another Scheme so dem Albinos can come hinterfere wiff island bizniss wi,,,
Soh long dem Caribs was dere trading and doing bizniss among demselves,,,
Garçon dis new election somebody need to start talking about implementing d concept of “SUB” some young ones wouldn’t know about dat but dat was before dem banks came,,,
Progress doesn’t need no financial institutions wiff dat failed concept of Fractionalized Lending and all dis bahball about funding,,,
Dis is d concept “co-operative” dats how dem Haitians come and take over d markets, dey all came together and created a co-operative,,,
Allyou cannot see it because allyou beezie looking for d next Lime but watch dem Haitians dey all eat from d same pot,,,
When dey go look for produce one go look for dasheen, next one go look for yam, next one go look for tania and so on and soh on allyou get d picture, den dey bring all together and go market and beat allyou out of allyou own resources, Ailass,,,
When All farmers come together and decide who gonna specialize in different productions only then d agro-industry vibes will see some steam moving forward but when all dem farmers egos bigger dan deir production no progress will come no matter how much money dem Albinos pump into d agro-industry,,,
More waste by the govt.
This man is the wrong man to be Finance Minister.
Government reflects the will of the people. They will cry even more when they re-elect him. Dominican will re-elect him for they love freeness – and Skerrit knows how to present it; a trick he learnt from his father Chavez. “Keep them always wanting, and just before election give them what they crave and tell them what they want to hear.” It’s that simple.
more loans yet still we the people will never see where all the money is going to go to the economy is dead all businesses closing down and unemployment is on the rise, with that in mind the cost of living is still sky high … we need someone else to run this country … am voting labour out
More loans.
Where is the money from the sand in Layou, and all the minding sites bleeding the mountains in Point Mitchelle, Colihaut etc. We have more fruits than any other country I know, fruits that are falling uselessly on the ground.
I am so ashame, with all the resources we have, not even a Presidential Palace we can build for our own president. ALl I hearing is LOAN LOAN LOAN. I AM NOT VOTING LABOUR PARTY NEXT ELECTION
do not let they fool u all again.Dominica should have a INTERNATIONAL AIRPORT long time ago.Not what they got for $200.000.000,and in this 21st century, still depending on ANTIGUA for link to the out side world it a big shame.BLESSED!
If the country had good governance, we would surely be the wealthiest and most prosperous country on earth.
Agreed with you bro. It’s time to kick them out.
POOR YOU!!!
More loan again, yet still nothing happening….”Skerrit used the opportunity to highlight his Government’s financial prudence.” Keep talkin , I suspect our PM delusional.
“I have the honor and pleasure to lead,”. a blind mice trying lead from behind.
“a very solid record of accounting for every single dollar we receive-whether through tax revenue or development partners” .keep fooling those Caricom officials skerro, skerro don’t answer to no man.
arandelle is that you
One more loan! Why in Gods name this government wants to dump money into the melville hall airport…..
To finance additional works at Melville Hall airport. Why?
For him to charter a jumbo jet for next elections from us, uk and canada
Every time I turn money talking in loans, gifts and grants. Where are putting all that peh-pesh?
Good question. We will know with time.
More loans!Oh my God! Can’t we generate our own revenue to meet our developmental needs? Our children are the ones who are going to bear this burden.What an incompetent administration!
How do you think we pay back the loans, with money from God?
LOL.LOL one thing Dominica is a funny island…lol
Additional works to Melville Hall Airport…lol
Sounds like lack of focus it took them over 8 years at melville hall approx over 200Mill USD the airport can’t deal with large volumes of traffic…they need to explain the areas directly…
this sounds like a election twister..
Those aspects still won’t grow the economy of Dominica i am afraid it’s too late for you all Dominicans….you all wasted too much time on a blinging regime which lack long term vision.
It’s the voters of Dominica biggest nightmare!
LDC probably stands for Less Developped Countries.
yes i boy!!!!!!!!!!!!!!
Tom eh no fool boy!!!!!!!!!
excuse me but de last General election was in December 2009 but it feels like is NOW DEM MAN STARTING TO GIVE DE IMPRESSION THAT IS NOW ALONE THEY SEE WORK TO DO!!!!!!!!
But what are we seeing on island to justify all these loans. Where is the money going to? To what use is the loan money being put? Where is this bottomless pit? Cayman? Offshore? Macau?
I would surely like to know.
Read the article and you will see. Read!!!
Election is really around the corner
You fool, tell America that.
Loans,loans and more loans, sounds like the biggest achievements of this country lately.
If loans has become such a problem for many of us in this country, then we must ask the PM to increase personal and other TAXES to fund the many projects he intend implementing.
To the many detractors, there a few things we need to consider(1) Take a loan and pay later, (2) Increase all taxes and wait ten or more years to implement the various projects, or (3) leave all proposed projects alone till we have raise enough taxes.
Obviously, we are on a campaign to make Dominica the poorest and lest developed country in the world because of Skerrit is PM, WHY?
Skerrit Legacy Loans Loans Loans Loans Loans Loans Loans & Crime
election coming…more money to spread without proper accountability…and MORE LOAN…
Hopefully they can enlarge the runway and the terminal, to allow larger planes to land at Melville Hall.
You know with the amount of MONEY this incompetent government has gotten, grants,loans and otherwise; had it been any other responsible and competent leaders governing this country; we would be the envy of every other country on earth?
However no one can point a finger as to where these millions and hundreds of millions have gone.
Poverty is still rife, and its increasing by leaps and bounds, unemployment is the order of the day, begging has increased, the impoverishment of the country is rising.
This quagmire will only end when this lazy, greedy, incompetent, arrogant, team of self centered are KICKED OUT VERY FAR BY THE ELECTORATE.
KICK THEM OUT!THEY CANNOT DO THE JOB!
We all know what the National Debt is.
Don’t come and lie to us!
Where were this monies lieing all the time guess it was planned to signed all kinds of agreement during this silly season of election campaign, like Karessa would say “We Go See””. Looks like Lenox on the scene all sectors of the Dominican community will get something for a short time till after election, but the element of suprise will bounce them back
* AID Bank’s General Manager, Julius Corbette*